Common use of Request to Trustee and Collateral Trustee Clause in Contracts

Request to Trustee and Collateral Trustee. The Initial Forbearing Holders hereby agree to request, and hereby do request: (i) that the Trustee rescind and cancel any acceleration hereafter declared at the request of any Holder of Notes or that may be declared by the Trustee, in accordance with Section 6.02 of the Indenture, of the amounts outstanding under the Indenture and the Notes as a result of any Anticipated Default occurring or continuing during the Forbearance Period; and (ii) that the Collateral Trustee rescind and cancel any foreclosure or other enforcement of any or all of the liens on the Collateral securing the Notes, or any enforcement of any of the terms of the Security Documents, in accordance with Section 6.03 of the Indenture as a result of any Anticipated Default occurring or continuing during the Forbearance Period. Each Initial Forbearing Holder shall, if necessary to facilitate the terms of this Agreement and to the extent such Initial Forbearing Holder is not the registered holder of the Notes it beneficially owns, instruct the registered Holder thereof to comply with the terms of this Agreement, including directing the registered Holder to instruct the Trustee and the Collateral Trustee to temporarily forbear from exercising any rights and remedies as provided above. The parties hereto agree that this Agreement may be delivered to the Trustee and the Collateral Trustee as a direction contemplated by Section 6.05 or Section 6.06 of the Indenture, and that each Initial Forbearing Holder shall, upon request from the Issuer, provide such further direction to the Trustee and the Collateral Trustee as may be necessary to effectuate the intent of the foregoing.

Appears in 3 contracts

Samples: Forbearance Agreement, Forbearance Agreement (Petroquest Energy Inc), Forbearance Agreement (Petroquest Energy Inc)

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Request to Trustee and Collateral Trustee. The Initial Forbearing Holders party hereto hereby agree to request, and hereby do request: , (i) that the Trustee rescind and cancel any acceleration hereafter declared made at the request of any Holder of Senior Secured Notes or that may be declared by the Trusteenot a party to this Agreement, in accordance with Section 6.02 5.02 of the Indenture, of the amounts outstanding under the Indenture and the Senior Secured Notes that may be declared by the Trustee as a result of any Anticipated Default occurring or continuing during the Forbearance Period; Period and (ii) that the Collateral Trustee rescind and cancel any foreclosure or other enforcement of any or all of the liens on the Collateral securing the Senior Secured Notes, or any enforcement of any of the terms of the Security DocumentsInstruments, in accordance with Section 6.03 5.03 of the Indenture as a result of any Anticipated Default occurring or continuing during the Forbearance Period. Each Initial Forbearing Holder party hereto shall, if necessary to facilitate the terms of this Agreement and to the extent such Initial Forbearing Holder is not the registered holder of the Senior Secured Notes it beneficially owns, instruct the registered Holder thereof to comply with the terms of this Agreement, including directing the registered Holder to instruct the Trustee and the Collateral Trustee to temporarily forbear from exercising any rights and remedies as provided above. The parties hereto agree that this Agreement may be delivered to the Trustee and the Collateral Trustee as a direction contemplated by Section 6.05 or Section 6.06 of the Indenture, and that each Initial Forbearing Holder shall, upon request from the Issuer, provide such further direction to the Trustee and the Collateral Trustee as may be necessary to effectuate the intent of the foregoing.

Appears in 1 contract

Samples: Forbearance Agreement (Exco Resources Inc)

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